Cp385 
CZ9n 


House  Eill  -  Carolina  Central 
Railway  Company 

McRae 


THE  LIBRARY  OF  THE 

UNIVERSITY  OF 

NORTH  CAROLINA 


FROM  THE  LIBRARY  OF 

ALEXANDER  B.  ANDREWS 

Class  of  1893 

TRUSTEE  OF  THE  UNIVERSITY 

FRIEND  OF  THE  LIBRARY 


Co  38  5. 1 


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House  Bill  No.  77.]  [Sim  1874-'75. 

Introduced  by  Mr.  McRa^. 

Ordtr&i  to  be  Printed. 

JOSIAH  TURNER,  Public  Printer  and  Binder. 


A  BILL  10  BE  -ENTITLED  AN  ACT  TO  AMEND 
THtf  i  HARTER  OF  THE  "CAROLINA  CENTRAL 
RAILWAY  COMPANY." 

Section  1.   The   General   Assembly  of  North   Carolina 

2  do  enact,    That  the  whole  of  section  four  (4)  of  an  act  en- 

3  titled  "  An  act  to  incorporate  the  Carolina  Central  Railway 
.    4  Company,"  ratified  the  20th  of  February,  1873,  be  stricken 

5  out,  and  that  there  be  inserted  instead  thereof  as  follows : 

6  That  the  officers  of  the  Company  shall  be  managed   by  a 

7  general  board  to  consist  of  not  more  than  thirteen  (13)  nor 

8  less  than  fire  (5)  directors  to  be  elected  by  the  stockholders 

9  at  each   annual   meeting.     All  such  elections  shall  be  by 

10  ballot,  and  the  person   having  a  majority  of  the  votes  cast 

11  shall  be  deemed  duly  elected.     Each  stockholder  shall  have 

12  as  many  votes  as  he  has  shares  in  the  stock  of  the  Company, 

13  and  every  holder  of  any  of  the  second   mortgage   income 

14  bonds  of  the  Company,  dated  the   1st  of  April,  1874,  and 

15  which  are  secured  by  a  mortgage  made  and  executed  by  the 

16  taid  Company  on  the   1st  of  April,   1874,  to  J.  Brander 

17  Matthews  and  James  L.  Dawes,  and  registered  in  the  office 

18  of  the  Register  of  Deeds  of  New  Hanov  .  count'  ,  in  book 

19  "III,"  pages  558  to  583  inclusive,  shall  be  entitled    to  vote 

20  either  in  person  or   by  proxy,  in  all  and  every  meeting  of 

21  the  stockholders,  as  if  he  was  a  stockholder,  and  shall  have 

* 

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22  as  many  votes  as  he  has  one  hundred  dollars  in  bonds,  that 

23  is  to  say,  that  for  ths  purpose  of  determining  the  number 

24  of  votes  to  which  such  bondholder  shall   be  entitled,  every 

25  one  hundred  dollars  in  bonds  shall  be  deemed  equivalent  to 

26  one  share  of  stock:    Provided,  That  the  stockholders  may 

27  at  any  annual  or  general  meeting,  establish  a  different  scale 

28  or  rule  of  voting  if  two-thirds  in  interest  of  said  stock- 

29  holders  and  two-thirds  in  amount  of  said  bondholders  rep* 

30  resented  at  such  meeting  shall  consent  thereto 

Sec.  2.  That  the  twenty-first  section  of  said  act  be  amended 

2  by  striking  out,  in  the  third  and  fourth  lines,  the  words  "in 

3  twelve  months  after  the  said   Company  organizes  and  gets 

4  possession  of  said  railway,"  and  insert  instead   thereof  "  on 

5  or  before  the  first  day  of  January,  1876,"  so  that  the  said 

6  Company  shall  be  allowed  until  the  first  day  of  January, 

7  1876,  to  complete  its  railway  to  the  town  of  Shelby,  Cleave- 

8  land  county. 

SiiC.  3.  That  this  act  shall  be  in  force  from  and  after  its 
2  ratification. 


in 


UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


00040627198 

FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 


